Maverick Capital Ltd. Increases Holdings in Cinemark Holdings, Inc. (NYSE:CNK)

Maverick Capital Ltd. raised its stake in shares of Cinemark Holdings, Inc. (NYSE:CNK) by 1,356.4% in the third quarter, Holdings Channel.com reports. The institutional investor owned 1,517,771 shares of the company’s stock after buying an additional 1,413,557 shares during the quarter. Maverick Capital Ltd.’s holdings in Cinemark were worth $42,255,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Blueshift Asset Management LLC increased its position in Cinemark by 180.2% in the third quarter. Blueshift Asset Management LLC now owns 114,674 shares of the company’s stock worth $3,193,000 after buying an additional 73,747 shares in the last quarter. BNP Paribas Financial Markets increased its position in Cinemark by 1,532.5% in the third quarter. BNP Paribas Financial Markets now owns 650,227 shares of the company’s stock worth $18,102,000 after buying an additional 610,398 shares in the last quarter. FMR LLC increased its position in Cinemark by 148.7% in the third quarter. FMR LLC now owns 30,401 shares of the company’s stock worth $846,000 after buying an additional 18,177 shares in the last quarter. Quantbot Technologies LP purchased a new stake in Cinemark in the third quarter worth about $687,000. Finally, Dynamic Technology Lab Private Ltd increased its position in Cinemark by 137.0% in the third quarter. Dynamic Technology Lab Private Ltd now owns 120,090 shares of the company’s stock worth $3,343,000 after buying an additional 69,414 shares in the last quarter.

Cinemark Price Performance

Shares of Cinemark stock opened at $34.55 on Friday. The stock has a 50 day moving average of $29.89 and a 200 day moving average of $25.19. Cinemark Holdings, Inc. has a 12 month low of $13.19 and a 12 month high of $34.99. The firm has a market cap of $4.23 billion, a PE ratio of 22.29, a PEG ratio of 1.71 and a beta of 2.35. The company has a current ratio of 0.98, a quick ratio of 0.96 and a debt-to-equity ratio of 3.46.

Cinemark (NYSE:CNK) last issued its quarterly earnings data on Thursday, October 31st. The company reported $1.19 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.58 by $0.61. Cinemark had a return on equity of 60.21% and a net margin of 8.36%. The business had revenue of $921.80 million for the quarter, compared to the consensus estimate of $894.90 million. During the same period in the prior year, the business posted $0.61 earnings per share. The company’s quarterly revenue was up 5.4% compared to the same quarter last year. On average, research analysts expect that Cinemark Holdings, Inc. will post 2 EPS for the current fiscal year.

Insider Buying and Selling at Cinemark

In other Cinemark news, insider Valmir Fernandes sold 25,000 shares of the company’s stock in a transaction that occurred on Tuesday, November 12th. The stock was sold at an average price of $32.68, for a total transaction of $817,000.00. Following the sale, the insider now directly owns 179,729 shares in the company, valued at $5,873,543.72. This represents a 12.21 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at this link. Company insiders own 2.30% of the company’s stock.

Wall Street Analyst Weigh In

A number of analysts have commented on CNK shares. StockNews.com upgraded Cinemark from a “sell” rating to a “hold” rating in a research report on Sunday, November 10th. Wedbush lowered Cinemark from a “strong-buy” rating to a “hold” rating in a research note on Friday, November 1st. JPMorgan Chase & Co. upped their price objective on Cinemark from $25.00 to $29.00 and gave the stock a “neutral” rating in a research note on Monday, October 14th. Macquarie upped their price objective on Cinemark from $32.00 to $34.00 and gave the stock an “outperform” rating in a research note on Friday, November 1st. Finally, Morgan Stanley upped their price objective on Cinemark from $29.00 to $35.00 and gave the stock an “overweight” rating in a research note on Friday, October 11th. One research analyst has rated the stock with a sell rating, four have issued a hold rating, six have given a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average price target of $31.10.

Cinemark Company Profile

Cinemark Holdings, Inc, together with its subsidiaries, engages in the motion picture exhibition business. As of February 16, 2024, it operated 501 theatres with 5,719 screens in 42 states and 13 countries in South and Central America. Cinemark Holdings, Inc was founded in 1984 and is headquartered in Plano, Texas.